Canaccord Genuity Raises Price Target on Callon Petroleum (CPE) Following Acquisition

KLR Group Raises Price Target on Callon Petroleum (CPE) Following Announced Acquisition

KLR Group reiterated a Buy rating on Callon Petroleum (NYSE: CPE), and raised the price target to $21.00 (from $18.00), following the company's announced agreement to acquire ~5,667 and an overriding royalty interest in three 480 acre units offsetting the acreage net acres in Howard County for ~$327 million.... More

FBR Capital Raises Price Target on Callon Petroleum (CPE) to $19 Following Acquisition

FBR Capital reiterated an Outperform rating on Callon Petroleum (NYSE: CPE), and raised the price target to $19.00 (from $17.00), following the company's acquisition of the Midland Basin. The purchase expands the company's WildHorse operating area in Howard County by 5,667 net acres and 112 net locations for... More

RBC Capital Upgrades Callon Petroleum (CPE) to Outperform

RBC Capital upgraded Callon Petroleum (NYSE: CPE) from Sector Perform to Outperform with a price target of $18.00.

For an analyst ratings summary and ratings history on Callon Petroleum click here. For more ratings news on Callon Petroleum click here.

Shares of Callon Petroleum closed at $15.46 yesterday.

Pre-Open Stock Movers 09/07: (RTRX) (AAOI) (FRAN) (CMG) Higher; (SFM) (HDS) (CASY) Lower (more...)

Today's Pre-Open Stock Movers:

Retrophin, Inc. (Nasdaq: RTRX) 25.6% HIGHER; announced positive top-line results from the Phase 2 DUET study of sparsentan for the treatment of focal segmental glomerulosclerosis (FSGS), a rare kidney disorder without an approved pharmacologic treatment that often leads to end-stage renal disease. The study achieved statistical... More

Callon Petroleum (CPE) Prices Larger 26M Share Stock Offering for Proceeds of ~$379.6M

Callon Petroleum Company (NYSE: CPE) announced that it has priced an upsized underwritten public offering of 26,000,000 shares of its common stock for total estimated gross proceeds (before the underwriter's discounts and commissions and estimated offering expenses) of $379.6 million. The underwriters will have an option to purchase up to an additional 3,900,000 shares of common stock from the Company.

Proceeds from the offering are expected to be used to fund... More

After-Hours Stock Movers 09/06: (AAOI) (PGNX) (CMG) Higher; (CASY) (PLAY) (SIGM) Lower (more...)

Today's After-Hours Movers:

Applied Optoelectronics, Inc. (Nasdaq: AAOI) 18.9% HIGHER; announced updated guidance for its third quarter ended Sept. 30, 2016. Revenue in the range of $63.0 million to $65.0 million, above the prior outlook of $56.0 million to $59.0 million. (The Street sees revenue of $58.2 million.) Non-GAAP fully diluted earnings per share in the range of $0.26 to $0.29, using a weighted-average fully diluted share count of approximately 18.0 million shares. This is above the prior outlook of $0.16 to $0.21 per share. (The Street sees EPS of $0.19.)

Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX)... More

Callon Petroleum (CPE) to Offer 23M Shares of Common Stock

Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced that it has commenced, subject to market and other conditions, an underwritten public offering of 23,000,000 shares of its common stock by the Company. The Company expects to grant the underwriters an option to purchase up to an additional 3,450,000 shares of common stock from the Company. Proceeds from the offering are... More

Callon Petroleum (CPE) to Acquire Properties in Howard County for $327M; Offers Operational Update

Callon Petroleum Company (NYSE: CPE) today announced it has entered into a definitive agreement to acquire certain undeveloped acreage and producing oil and gas properties for total consideration of $327 million in cash. The Company intends to fund substantially all of the cash purchase price with the net proceeds of an equity offering announced concurrently with this announcement of the pending acquisition and any remaining amount with availability under its revolving credit facility.

Key attributes of the pending acquisition include: